French private equity firm Antin Infrastructure Partners has received approval from the Spanish government for its voluntary takeover bid of Spanish wind and solar developer Opdenergy Holding.
The Foreign Investment Board of Spain issued a favorable report on the proposed acquisition, which was subsequently approved by the Spanish government at its cabinet meeting on January 30, according to a filing by Antin's affiliate, GCE BidCo, to the Spanish securities market regulator (CNMV).
The takeover, valued at EUR 866 million (USD 936.0 million), is part of Antin's strategic move to acquire Opdenergy, a friendly acquisition welcomed by the company's founding shareholders and CEO Luis Cid Suarez.
With government approval secured, the deal now awaits the final nod from the CNMV. Once completed, Antin plans to delist Opdenergy.
